Suzlon Energy Share Price, BUY: Global brokerage firm Morgan Stanley has initiated its coverage on the renewable energy solutions provider Suzlon Energy stock. The brokerage, in its report, has shared its bullish outlook on the company’s shares. Suzlon is India’s leading renewable energy solutions provider, offering a 360-degree total solutions package to its customers that covers the entire spectrum of wind energy projects.
Suzlon Energy stock started Monday’s trading session with gains at Rs 49.99, which is also the upper circuit level for the stock on the BSE. Trading for the stock has been halted since then.
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Morgan Stanley on Suzlon Energy
Morgan Stanley said that Suzlon 2.0 is well-positioned to benefit from the energy transition. The brokerage believes that the market has not fully tapped into the growth potential yet. Morgan Stanley expects Suzlon Energy’s earnings to grow at 57 percent CAGR in FY24-27.
Morgan Stanley has initiated its coverage on the Suzlon Energy stock with an Overweight rating. The brokerage has assigned a price target of Rs 58.
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Suzlon Energy Share Price History
According to the BSE analytics, Suzlon Energy stock has advanced 10.45 per cent in the last week, and 20.84 per cent in the last month.
Shares of Suzlon Energy have sprinted nearly 26.81 per cent in the last six months and a whopping 354.87 per cent in the last year as per the BSE data.
Suzlon Energy stock has offered a return of 499.40 per cent in the last two years, 673.84 per cent in the last three years, 895.82 per cent in the last five years, and 110.22 per cent in the last ten years to its investors, as per the data available on the BSE.
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Shares of Suzlon Energy were quoted at their 52-week high of Rs 506.39 on the BSE on February 2, 2024, while they were seen at the 52-week low of Rs 7.91 on April 24, 2023.
Suzlon Energy commands a market cap of Rs 68,005.70 crore on the BSE as of June 3, 2024. The energy solution provider company is a constituent of the S&P BSE 500 index on the BSE.
